This item is part of Stockwatch's value added news feed and is only available to Stockwatch subscribers.Here is a sample of this item:Alange Energy acquires Delavaco, appoints director 2009-10-22 18:13 ET - News Release Mr. Luis Giusti reports ALANGE ENERGY ANNOUNCES COMPLETION OF ACQUISITION OF DELAVACO ENERGY INC. AND APPOINTMENT OF NEW DIRECTOR Further to its news release in Stockwatch dated Oct. 1, 2009, Alange Energy Corp., effective today, has completed its acquisition of Delavaco Energy Inc. Under the transaction, Alange Energy acquired all issued and outstanding Delavaco common shares in exchange for common shares of Alange Energy pursuant to an amalgamation between Delavaco and a wholly owned subsidiary of Alange Energy. Delavaco shareholders exchanged each of their Delavaco common shares for 0.8674 of an Alange Energy common share. The transaction was an arm's-length transaction, and was approved by the shareholders of Delavaco and by the TSX Venture Exchange.
Commenting on the transaction, Luis Giusti, Alange Energy's chairman and chief executive officer, stated, "The acquisition of Delavaco increases the 2P reserve base of Alange Energy almost threefold to 34.4 million barrels of oil equivalent, while the incorporation of new equity in La Punta and Rio Magdalena will translate into immediate and short-term additional production growth." The remainder is available to Stockwatch subscribers.
If you would like to give the Stockwatch system a try,
click here for a free 30 day trial subscription. |
Top
Print this Page